“If the Pharma industry doesn’t reinvent itself and its processes, it will become nothing but a supplier to Big Tech, which is rapidly moving into healthcare,” says Paul Simms, CEO and Founder of Eyeforpharma.

Eyeforpharma is an international hub connecting senior-level pharma executives, patient groups and other health stakeholders to exchange ideas and observe shifting trends and practices at events, in reports and conferences. In this second episode of a short series about digital therapeutics, Paul talks about the relationship between Pharma and DTx and Pharma development as an industry in general. As an Advisor to Hu-manity.co Paul also discussed the concept of people owning their data and managing it as property.

Pharma needs to be disrupted

Paul is among the critical members of the Pharma industry. He is convinced that the legacy system the industry is run by, needs to be and could be disrupted because Pharma does not lack talented and innovative people. Paul sees the main reason for the slow digital evolution of the industry in the perception that because pharmaceuticals have a strong market position and because it relies on the next best drug developed, Pharma companies don’t need to change their ways of working.

Paul Simms. 

However, pricing pressures in the US will force Pharma companies to innovate. Additionally, the entrance of tech giants in healthcare is another factor forcing Pharma companies to reinvent themselves or become only suppliers to Big Tech in the future. As for the connection between DTx and Pharma, Paul sees the main issue in doctors needing to adopt DTx, which at the moment they don’t necessarily.

DTx will enter Pharma, we just need time

Criticism aside, Paul does believe Pharma companies are putting effort into adopting and helping develop DTx. As written by Bozidar Jovicevic, VP, Global Head of Digital Medicine at Sanofi, in Eyeforpharma’s report DTx — threat or opportunity, trends of Dtx are:

1-Drug treatments are insufficient for most chronic diseases, which also require support, education and monitoring,

2-Health systems are struggling to manage the rising, costs of managing chronic disease as well as rising demand,

3-Payers and regulators are driving towards pay-for performance and value-based care,

4-Patients want to take control of their health using smartphones and other devices that give access to knowledge and capabilities they never had before.

In Paul’s opinion, Novartis as an example learned a lot from working with Pear Therapeutics. As DTx are in their early days of development and adoptions we will see a lot more failures before a universal system will be identified and put in place, says Paul. He himself is optimistic about DTx, as these are digital solutions that have been proven to work, especially in the mental health area, and they treat patients holistically.

Tune in to hear more:

Some questions addressed:

• Judging by your LinkedIn profile, you seem to be very critical of the pharma industry. What’s bothering you? You’ve been in the industry for 17 years by now.

• In 2019 eyeforpharma released a paper about digital therapeutics titled: Dtx — threat or opportunity? Which one is it?

• There’s a lot of optimism in the digital health community about digital therapeutics and up until last year, it seemed that the Pharma was also warming up to the idea. Then Otsuka therapeutics withdrew their financial support with Proteus digital therapeutics, causing Proteus to pivot fro mental health toward oncology, infectious disease treatment adherence in January 2020. Pear Therapeutics and Sandoz changed their collaboration in a move that was understood by many as the Pharma partner backing off. So what is going on according to your interpretation and of course insight you have in the Pharma industry?

• You’ve been the Chairman and CEO of eyeforpharma for nearly 17 years. That must have been quite a journey?

• What trends are you seeing, major changes in the industry? Where is focus heading with gene therapies, immunotherapies, appetites of Pharma for patient data, etc.